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Estimating merchandise uniqueness

a uniqueness and merchandise technology, applied in the field of data processing, can solve the problems of high-end retailers increasing prices, high-end retailers earning a poor reputation, and dissatisfaction on the part of customers

Inactive Publication Date: 2017-12-07
INT BUSINESS MASCH CORP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

The present invention is a method, computer program product, and system for recommending items of merchandise to users based on their social media accounts. The system identifies characteristics of the merchandise and compares those characteristics to information within the user's social circle. It then generates a uniqueness factor for the merchandise based on the comparison and recommends other items based on that factor. The social media accounts are accessed using computer software and hardware. Overall, the invention helps users quickly and easily discover relevant merchandise based on their social connections.

Problems solved by technology

For example, if a high-end retailer is an exclusive distributor of a fashion line and that fashion line includes a new fabric pattern, the high-end retailer will increase the price (sometimes called a “premium”) because the new fabric pattern cannot be purchased in other locations.
An occurrence of this sort leads to dissatisfaction on the part of the customer, potentially leading to a high-end retailer earning a poor reputation.

Method used

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Examples

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example embodiment

II. Example Embodiment

[0044]FIG. 3 shows flowchart 350 depicting a method according to the present invention. Some embodiments provide an overall reduction in consumption of computing resources, on average. In many embodiments, a computing device is configured to provide functionality to aid a user in reaching an endpoint. Such an endpoint may be, for example, when an answer to a query is presented to the user. The amount of time required, user input, and consumption of network bandwidth, electrical power, hardware, and software resources in order to reach that endpoint reflect a level of efficiency for the computing device when performing that function. For example, in a first scenario a user spends three hours searching through social media and online venues in order to locate a unique item. In this example, a unique item is an item that has unique characteristics that set it apart from other items of the same type (e.g., types of clothing and accessories such as, but are not limi...

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PUM

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Abstract

Estimating a degree of uniqueness of a set of merchandise based on merchandise owned by others in a social network. An analysis is performed on a social network of a user and a degree of uniqueness for a set of merchandise is determined.

Description

BACKGROUND[0001]The present invention relates generally to the field of data processing, and more particularly to creation or modification of a knowledge processing system.[0002]Some high-end fashion retailers charge set merchandise prices at an increased profit margin based, at least in part, on how “unique” an article is. For example, if a high-end retailer is an exclusive distributor of a fashion line and that fashion line includes a new fabric pattern, the high-end retailer will increase the price (sometimes called a “premium”) because the new fabric pattern cannot be purchased in other locations. One reason a customer of a high-end retailer is willing to pay a premium for merchandise is to ensure other people do not appear at an event wearing matching merchandise. Some merchandise purchases are made for a specific event. For example, a customer does not want to be one of two women wearing matching dresses at a wedding or one of two men wearing matching shirts at an office party...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06Q30/06G06F17/27G06Q50/00
CPCG06Q30/0631G06F17/2785G06Q50/01B60W30/12B62D15/025B60W2556/65B60W2420/403B60W2420/408G05D1/0088G05D1/028G05D1/12G06F40/30G08G1/167H04L67/12
Inventor NIGUL, LEHO
Owner INT BUSINESS MASCH CORP